European financial ETF rallies nearly 4%

JohnSpence

BOSTON (MarketWatch) -- The iShares MSCI Europe Financials Sector Index Fund
EUFN, +0.24%
climbed 3.6% early Tuesday and was among the top percentage advancers in exchange-traded funds. The ETF benefited from strength in UBS
UBS, +0.30%
and Deutsche Bank
DB, +0.78%
shares, which rose Tuesday after the banks reported quarterly earnings -- both stocks are in the fund's 10 largest holdings. European banking shares rallied after global regulators in a compromise agreed to scale back some new capital and liquidity rules.

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